In Celebration of Earth Day, Payactiv to Offer Users Earthwise™ High Content Payment Cards from CPI Card Group®
April 22 2021 - 9:00AM
Business Wire
CPI® and Payactiv Demonstrate Commitment to
More Eco-Friendlier Business Practices with Upcycled Plastic
Payment Cards
CPI Card Group Inc. (OTCQX: PMTS, TSX: PMTS) (“CPI” or the
“Company”), a payment technology company and leading provider of
credit, debit and prepaid solutions, today marked Earth Day by
announcing a collaboration with Payactiv, the leader in Earned Wage
Access (EWA) and a Certified B-Corp, to produce Earthwise™ High
Content Cards for the Payactiv Visa® Card* programs. The Earthwise™
High Content Card, which is made with up to 98 percent upcycled
plastic, depending on design, helps reduce first-use plastic in
payment cards and uses plastic waste that might otherwise end up in
a landfill. The collaboration between the companies is the latest
example of CPI’s and Payactiv’s broader commitment to environmental
stewardship.
Through Earthwise™, Payactiv can offer its users an EMV®
compliant and dual interface capable card produced using
post-industrial upcycled plastic. Earthwise™ will allow Payactiv,
the only EWA provider whose program has been approved as a
non-credit product by the Consumer Financial Protection Board
(CFPB), to offer businesses a holistic financial wellness solution
that also counts sustainability within its unique value
proposition.
“We’re thrilled to join with CPI to offer payment cards made
with more eco-focused materials and reduce our impact on the
environment,” said Payactiv Founder and CEO Safwan Shah. “With
Earthwise™, making an impact has never been so important for
businesses, their employees and stakeholders. We look forward to
financially empowering millions of people with our platform, while
bringing clients into the fold as we help create a more sustainable
future.”
"Visa is committed to driving sustainable commerce, including
advancing sustainability in payment cards and accounts," said
Douglas Sabo, Chief Sustainability Officer, Visa. “We’re proud of
our work with CPI Card Group, and we applaud their collaboration
with Payactiv to support the future of a more sustainable payments
ecosystem.”
The Earthwise™ High Content Card is part of Earth Elements™,
CPI’s portfolio of more eco-focused payment cards, which includes
the recently launched Earthwise™ Recycled PVC Card, featuring up to
85 percent upcycled PVC, dependent on design. The portfolio also
features Second Wave®, the first to market, EMV® compliant, dual
interface capable, high quality payment card featuring a core made
with recovered ocean-bound plastic.
“Our relationship with Payactiv is driven by a shared purpose to
be more environmentally responsible. We’re thrilled to collaborate
on offering eco-focused cards as we extend the reach of Earthwise™
cards and help reduce the use of first-use plastic in payment
products,” said Guy DiMaggio, SVP & GM of Secure Card and
Sustainability Solutions, CPI Card Group. “We applaud Payactiv’s
continued efforts to lead by example in taking steps to protect the
environment and are proud to support a new way for the businesses
and people they serve to join them in their mission.”
Also announced today, Payactiv will seek to partner with a
leading design school to continue to identify and support the
future development of environmentally inspired designs and
expressions. These designs will be showcased in an annual
competition to review the best ideas on how to encourage the use of
eco-focused payment cards.
To learn more about the Earthwise™ High Content Card, click
here.
About Payactiv Payactiv, a Public Benefit Corporation and
Certified B-Corp, is a holistic financial-wellness platform that
provides employees on-demand access to earned but unpaid wages.
Businesses that partner with Payactiv see significant cost
reductions through increased recruitment, engagement and retention.
Employees love Payactiv because it eliminates the expensive
between-paychecks toll of payday loans, bank overdrafts and late
fees. Payactiv offers a suite of financial services that includes
savings and budgeting tools, bill payment and financial-health
measurement. Payactiv is the winner of the Innovative Payments
Association’s Consumer Champion Award, a Finovate winner and
finalist, and the recipient of numerous best-in-class awards in
both FinTech & HRTech. It is also the provider of Earned Wage
Access to Walmart and the only EWA program with an approval order
from CFPB.
In 2020, Payactiv released a short film titled, “We Heard You.”
Learn more at www.payactiv.com.
About CPI Card Group®
CPI Card Group® is a payment technology company and leading
provider of credit, debit and prepaid solutions delivered
physically, digitally and on-demand. CPI helps our customers foster
connections and build their brands through innovative and reliable
solutions, including financial payment cards, personalization, and
Software-as-a-Service (SaaS) instant issuance. CPI has more than 20
years of experience in the payments market and is a trusted partner
to financial institutions and payments services providers. Serving
customers from locations throughout the United States, CPI has a
large network of high security facilities, each of which is
registered as PCI compliant by one or more of the payment brands:
Visa, Mastercard®, American Express® and Discover®. Learn
more at www.cpicardgroup.com.
EMV® is a registered trademark in the U.S. and other countries
and an unregistered trademark elsewhere. The EMV trademark is owned
by EMVCo, LLC.
*This is a Payactiv Visa Prepaid Card issued by Central Bank of
Kansas City, Member FDIC, pursuant to a license from Visa U.S.A.
Inc.
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ICR Inc. for CPI Card Group Sourav Das 203-682-8283
media@cpicardgroup.com
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